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Preliminary (ss. 44-45) |
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44. Appointment of actuary by societies with long term business |
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45. Valuation of assets and liabilities |
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Actuarial investigations (ss. 46-47) |
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46. Annual investigation into condition of certain societies |
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47. Triennial investigations into condition of certain societies |
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Margins of solvency (ss. 48-49) |
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48. Margins of solvency in relation to insurance business of certain societies |
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49. Failure to maintain prescribed margin of solvency |
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Adequacy of assets and premiums (ss. 49A-49B) |
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49A. Adequacy of assets |
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49B. Adequacy of premiums in respect of long term insurance |
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Criteria of prudent management (s. 50) |
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50. The criteria of prudent management |
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Powers of FCA and PRA (ss. 51-56) |
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51. Power to forbid acceptance of new members |
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52. Applications to court |
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52A. Prohibition on disposal of assets. |
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53. Residual power to impose requirements for protection of members |
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54. Supervision of activities of subsidiaries etc |
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55. Supervision of group insurance business |
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55A. Supervision of controllers. |
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56. Linked long-term insurance contracts |
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Covering of risks situated in another member State (ss. 57-57A) |
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57. Recognition of societies in accordance with insurance Directives |
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57A. Notification by Commission of measures taken by it |
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Notices, hearings and appeals (s. 58A) |
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58A. Notices, hearings and appeals |
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Appeals (ss. 58-61) [Substituted with new heading Notices, hearings and appeals (s. 58A)] |
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58. Rights of appeal |
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59. Determination of appeals |
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60. Costs, procedure and evidence |
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61. Further appeals on points of law |
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Information (ss. 62-64) |
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62. Powers to obtain information and documents etc |
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62A. Entry of premises under warrant under section 176 of the Financial Services and Markets Act 2000 |
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63. Confidentiality of certain information [Substituted with new s. 63A] |
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63A. Disclosure of information |
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64. Exceptions from restrictions on disclosure [Substituted with new s. 63A] |
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Inspections etc. (ss. 65-67D) |
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65. Investigations on behalf of FCA or PRA |
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66. Inspections and special meetings: general |
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67. Inspections: supplementary provision |
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67A. Information for members |
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67B. Statutory notice |
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67C. Right to withdraw from transaction |
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67D. Service of notice of cancellation |
